PICTON MAHONEY ASSET MANAGEMENT
Institutional investor · Portfolio as of Q2 2025
Top Holdings963 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
| 10M | $806.5M | 8.3% | — | — | — | Increased — | |
| 10M | $806.5M | 8.3% | — | — | — | Decreased — | |
ROYAL BANK OF CANADA | 2.5M | $330M | 3.4% | $128.78 | 0.00% | 1 qtr | New 65 |
TORONTO-DOMINION BANK | 3.7M | $267.5M | 2.8% | $71.84 | 0.00% | 1 qtr | New 60 |
| 1.2M | $266.3M | 2.7% | — | — | — | Decreased — | |
SHOPIFY INC - CLASS A | 1.8M | $202.1M | 2.1% | $113.64 | +0.01% | 2 qtrssince 2025-Q1 | Increased 63 |
CANADIAN PACIFIC RAILWAY LTD /CAD/ | 2.5M | $195M | 2.0% | $78.76 | 0.00% | 1 qtr | New 59 |
CANADIAN NATURAL RESOURCES | 5.2M | $162.6M | 1.7% | $31.45 | 0.00% | 1 qtr | New 51 |
WASTE CONNECTIONS INC | 757,500 | $140.9M | 1.5% | $185.20 | 0.00% | 1 qtr | New 51 |
BROOKFIELD CORP /CAD/ | 2.3M | $140.6M | 1.4% | $40.96 | 0.00% | 1 qtr | New 51 |
AGNICO EAGLE MINES LTD | 1.1M | $134.1M | 1.4% | $115.53 | 0.00% | 1 qtr | New 51 |
NVIDIA CORP | 843,607 | $133.3M | 1.4% | $123.64 | +27.57% | 22 qtrssince 2020-Q1 | Increased 43 |
ENBRIDGE INC | 2.9M | $132.1M | 1.4% | $44.15 | 0.00% | 1 qtr | New 51 |
MICROSOFT CORP | 256,569 | $127.6M | 1.3% | $309.58 | +59.63% | 26 qtrssince 2019-Q1 | Increased 45 |
| 377,000 | $119.8M | 1.2% | — | — | — | New — | |
TC ENERGY CORP | 2.1M | $100.4M | 1.0% | $48.26 | 0.00% | 1 qtr | New 50 |
THOMSON REUTERS CORP | 491,996 | $98.5M | 1.0% | $194.91 | 0.00% | 1 qtr | New 50 |
OR ROYALTIES INC. | 3.8M | $96.6M | 1.0% | $24.98 | 0.00% | 1 qtr | New 42 |
CELESTICA INC | 581,089 | $90.4M | 0.9% | $156.11 | 0.00% | 1 qtr | New 42 |
SUN LIFE FINANCIAL INC | 1.3M | $87.7M | 0.9% | $65.93 | 0.00% | 1 qtr | New 42 |
PICTON MAHONEY ASSET MANAGEMENT manages $9.7B across 963 positions as of Q2 2025. Top holdings: ISHARES TR (8.3%), ISHARES TR (8.3%), RY (3.4%). Fund DNA: Diversified Scout. HoldingsIntel Rating: 2.5/5.0.
Active quarter - 283 new positions, 245 exits, 182 increased. Top move: RY (NEW, conviction 65). Portfolio: $9.7B across 963 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer